“The troubled British microchip designer Imagination Technologies has become a takeover target for a private equity fund backed by the Chinese government,” Christopher Williams reports for The Telegraph. “Canyon Bridge Capital Partners, which is based in Silicon Valley but funded by authorities in Beijing, has held talks about a potential bid for Imagination or parts of its business.”
“City sources said that Canyon Bridge was viewed as a serious potential bidder. Last year it agreed to pay $1.3bn (£1bn) for Lattice Semiconductor, a US maker of specialised microchips,” Williams reports. “That deal has provoked unease over the private equity firm’s links to the Chinese government. Beijing has made increased sway in the global high technology market a policy priority and Chinese investors have been on a buying spree.”
“A bid for Imagination could be a test of the British Government’s readiness to intervene in takeovers,” Williams reports. “Imagination was forced to put itself on the block in June after Apple said it would stop using its graphics technology in the iPhone… Imagination, which now has a stock market value shy of £400m, declined to comment. At its peak the company was worth around £2bn.”
Read more in the full article here.
MacDailyNews Take: As Imagination is learning the hard way, it’s not smart to put all of your eggs in one basket.
SEE ALSO:
Apple escalates feud, sets up new UK office on Imagination’s doorstep – July 10, 2017
Apple fires back at Imagination Tech in contract dispute – July 7, 2017
Imagination Technologies attacks Apple’s homegrown GPU plans – July 5, 2017
Former Apple supplier Imagination Technologies puts itself up for sale – June 22, 2017
Imagination Technology starts dispute process with Apple – May 4, 2017
UBS: Imagination likely to see Apple royalties slashed, then cease altogether – April 19, 2017
It’s getting even tougher to be an Apple supplier – April 19, 2017
Without Apple, Imagination Technologies’ PowerVR has no future – April 10, 2017
Apple steps up homegrown GPU plans with London hiring spree – April 9, 2017
Why Apple’s ditching of Imagination is critical for the future of the iPhone – and maybe even the Mac – April 5, 2017
Apple aims for more control, less cost as it accelerates in chip design – April 5, 2017
Apple could look to buy Imagination Technologies after ditching the chip firm, share price plunge – April 4, 2017
Imagination Technologies’ shares collapse after Apple dumps UK chip designer – April 3, 2017
Apple nabs top talent from iPhone 7 GPU chipmaker Imagination Technologies – October 13, 2016
After failed takeover talks with Apple, Imagination Technologies sells stake to state-owned Chinese company – May 9, 2016
Apple in ‘advanced talks’ to acquire Imagination Technologies for PowerVR GPU – March 22, 2016
The US is a global economic globalist financing its fastest growth industry, military defense and aggression, with paper currency. China is learning that lesson.
China: “Hey US. You and your globalist partners think you are hoodwinking us with your quantitative easing that produces so much fiat currency? We know that you know that it’s backed up by nothing valuable. Your Ft. Knox is empty; You know that we know that too. Neither of us can talk about it publicly as it would destroy that fantasy. Debt holders would demand gold. When they find out nothing is none, our and your economies would collapse.
Yeah, we have a lot of your phony money. We’ll give it right back at you by bying up your and your partners’ valuable properties with it. In the end, we’ll even own your iPhone IP and patents, and manufacturing too. Ha ha ha ha.”
OOps. I meant to have opened with “The US is a global economic colonialist….”
Apple should buy them, just to keep them from China.